Freight NOI Calculator
Quickly determine the freight class of your shipments with our Freight NOI Calculator. Accurately calculate your item's National Motor Freight Classification (NMFC) number and streamline your shipping process. Ideal for businesses looking to optimize costs and ensure proper handling of their goods.
Freight NOI Calculator (Not Otherwise Indicated)
A Freight NOI (Not Otherwise Indicated) Calculator is a tool used by companies in the transportation and shipping industry to estimate and keep track of extra costs and income that don’t fit into the usual categories. These “not otherwise indicated” costs might include unexpected expenses like emergency repairs or detours that are not part of the regular budget. By using this calculator, companies can better understand their overall profits and avoid surprises from costs they didn’t plan for.
This calculator is especially helpful for companies with complicated shipping routes, where unexpected expenses can pop up. By including these extra costs in their financial planning, companies can be more prepared and make better decisions about managing their money. This helps them keep accurate financial records and make more reliable predictions about their profits and losses, which is important for running a successful business in the freight industry.
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How To Use a Freight NOI Calculator?
Using a Freight NOI (Not Otherwise Indicated) Calculator is a straightforward process that helps businesses determine their overall profits by considering all the different costs and revenues. Here’s how you can use it step by step:
Gather Your Data: First, you need to collect all the financial information related to your freight operations. This includes the revenue you earn from shipping goods and any costs involved, such as fuel, driver salaries, vehicle maintenance, and other expenses. Don’t forget to include unexpected costs that don’t fit the usual categories, like emergency repairs or extra handling fees.
Input the Data: Once you have all your data, enter it into the Freight NOI Calculator. Most calculators will have separate fields where you can input your revenue and different types of expenses. Ensure you include everything, especially those “not otherwise indicated” costs that might not be part of your regular budget.
Calculate the NOI: After entering all the necessary information, the calculator will do the math for you. It subtracts all your expenses from your revenue to give you your Net Operating Income (NOI). This final number shows you how much profit you’re making after covering all your costs.
Review the Results: Once you have your NOI, review the results carefully. If your NOI is positive, your business is making a profit. If it’s negative, it means you’re spending more money than you’re earning, and you may need to find ways to reduce costs or increase revenue.
How Freight Class and Other Factors Affect Freight Rates
Freight rates are determined by several different factors including package dimensions, weight, distance and freight class, as well as your packages’ Pounds per Cubic Foot (PCF) or density. Your package’s PCF is closely related to the freight class that is applied to your freight shipment. A low PCF will result in a higher class rating. In turn, a higher class rating corresponds to a higher cost to ship your freight.
For example, a shipment that works out to 1.31 pound per cubic foot and weighs 100 pounds (Class 300) will be much more expensive to ship than an item that has the same weight but equates to 9.67 pounds per cubic foot (Class 100). In other words, the more space your freight occupies on a truck or in a container the more costs you will incur for transport. If your commodity or product cannot be classified by a National Motor Freight Classification (NMFC) number, than apply a general class rate or NOI (Not Otherwise Indicated) class to determine your cost to ship. NOI shipping terms are typically quoted and processed manually through select freight carriers. For this reason, shippers are encouraged to make sure their weights and dimensions are accurate in order to avoid billing adjustments based on PCF and class changes. By far the most common reason for a re-bill or billing adjustment, it is also the most avoidable. Never guess or estimate dimensions and weights when shipping freight.
1) Measure the shipment’s height, width, and depth. In taking these measurements, you must measure to the farthest points, including pallets or another packaging. (On shipments with multiple pieces, repeat this step for each piece).
2)Multiply the three measurements (height x width x depth). The result is the shipment’s total cubic inches (or feet).
3)Finally, divide the shipment’s weight (in pounds) by the total cubic feet. The result is the pounds per cubic foot, i.e., density.
Enter the length, width, height, and weight of your cargo. Our freight density calculator will instantly show its freight density and recommended freight class.
Freight Class Density vs. NMFC Number
There are two ways to determine freight class – NMFC Number and Freight Class Density.
NMFC-based freight class– The Nation Motor Freight Traffic Association (NMFTA), a nonprofit membership organization of motor carriers, created the National Motor Freight Classification® (NMFC) system to assign freight classes for a multitude of commodities.
Density-based freight class– There are two circumstances under which density, not NMFC, will determine a cargo’s freight class.
1) You are using a density-based carrier.
2) the NMFC for what you are shipping is Not Otherwise Indicated (NOI). Sometimes, that may be because you are shipping several items with different freight classes in the same crate.
The freight density of an object is the measurement of its compactness or pounds per cubic foot (PCF). Watch the video below to learn how freight density and freight class are closely related.
Get started shipping now with a free freight quote. Have more questions about freight class, freight density, or freight shipping ? One of our expert Freight Agents can help you along the way. To speak with one of our agents, call 800.716.7608.
How Is LTL Class Density Calculated?
LTL Carriers will generally charge for freight based on the weight and cube of the shipped items. To assist with this, the National Motor Freight Traffic Association publishes the National Motor Freight Classification guide. This standard allows determining freight classes to compare different commodities and shipped products. Every shipped item falls into one of 18 freight classes, represented by numeric numbers ranging from class 50 to class 500.
Freight Density is critical.
There are four different aspects or characteristics that determine any given commodities freight class. The factors determining a commodity’s class are density, stowability, handling, and liability.
Freight Density
The freight density is the pounds per cubic foot of your item. It is the primary key in determining freight class (however, the characteristics listed below can, in some cases, have a very profound effect on the class and, therefore, the cost). Typically, lower freight classes represent items of higher freight density and, hence, a lower price.
Stowability
Stowability takes into account how easy it is to stow the commodity. The harder it is to stow or transport this item compared to other things, the more this factor will increase the freight class and cost. Some factors include if it is unusual dimensions or if it contains hazardous materials. Additionally, some items are regulated by government or carrier policies and items with characteristics that prevent them from being near or shipped with other things.
Handling
Handing considers the commodity’s ability to be handled as the freight is loaded and unloaded from the LTL terminal to the LTL terminal. The greater the difficulty in handling, the more this factor will increase the freight class and cost. Packaging, unit dimensions, and fragility are considered when determining how handling impacts the class.
Liability
Liability considers how likely the item will be damaged, stolen, or damaged to other freight and property. The greater the liability risk, the more this factor will increase the freight class and cost.
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Q. What is a Freight NOI Calculator?
Freight NOI Calculator is a tool for determining the freight class of items that do not fit into standard categories. It helps ensure accurate shipping rates and proper handling of your goods.
Q. How does the Freight NOI Calculator work?
The calculator allows you to input specific details about your shipment, such as weight, dimensions, and any special handling requirements. It then uses this information to assign your item the correct freight class.
Q. Why is determining the correct freight class important?
Determining the correct freight class is crucial because it affects the shipping cost and ensures that your items are handled appropriately during transit. Incorrect classification can lead to additional charges or damage to your goods.
Q. Can I use the Freight NOI Calculator for any type of shipment?
Yes, the Freight NOI Calculator can be used for various shipments, especially those that do not fall into standard freight categories. It is beneficial for unique or irregularly shaped items.
Q. Is the Freight NOI Calculator easy to use?
Yes, the Freight NOI Calculator is designed to be user-friendly. By entering the required details about your shipment, you can quickly and accurately determine the correct freight class.
Q. Do I need any special information to use the Freight NOI Calculator?
To use the calculator, you will need information such as your item’s weight, dimensions, and special handling instructions. Accurate details help ensure the correct classification.
Q. Can the Freight NOI Calculator save me money?
Yes, using the Freight NOI Calculator can help you save money by accurately determining the freight class, which ensures you are charged the correct shipping rate. Avoiding misclassification can prevent extra fees and delays.
Q. Does FreightCenter offer support for using the NOI Calculator?
Yes, FreightCenter provides customer support to assist you with using the NOI Calculator. Their team can help you understand the results and ensure your shipment is classified correctly.
Q. What if my shipment includes multiple items with different classifications?
If your shipment includes multiple items with different classifications, you can use the Freight NOI Calculator to determine each item’s class individually. FreightCenter can then help you consolidate and manage the shipment.
Q. How can I access the Freight NOI Calculator?
You can access the Freight NOI Calculator through FreightCenter’s website. If you need assistance, you can also contact their customer service for help with using the tool and understanding the results.
Q. Is there a cost to use the Freight NOI Calculator?
Generally, the Freight NOI Calculator is available for free on FreightCenter’s website. However, you may want to check with FreightCenter for any specific terms or conditions related to its use.